Original directors allocation was for 3260870 shares at a cost of $1,500,000.
This is a request to expand that to 4,782,607 shares costing $2,200,000. It is a substantial increase.
Sure, with JP, he is “All In” on this project, it’s his life’s work, so I can see him rolling the dice to succeed. Go down burning if that’s the outcome.
But a couple of the junior directors are stumping up $100,000 each. That’s a lot of money to them.
It may not infer Glencore is in, but it signifies non exec directors are big believers that finance will be sorted one way or another. Contrast that with Lakes directors……..
Ann: Notice of General Meeting & Letter to Shareholders, page-5
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